Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Delaware chancery court judge Kathaleen McCormick made little effort to disguise her incredulity at Elon Musk’s jaw-dropping 2018 pay package when she ruled this week that it should be rescinded. Tesla’s board was “perhaps starry
Viktor Orbán was asked on Hungarian TV late last year whether his antagonism towards Brussels and Washington would lead Hungary away from the west and out of the EU. “Our plan is not to leave the EU,” he replied. “Our plan is to conquer it.” Orbán was speaking shortly after he vetoed an €50bn EU
The Federal Reserve made two things clear at its meeting on Wednesday — interest rate cuts are coming, but not as soon as many investors might like. After two years of turbulence, including a bout of rampant inflation that caught the central bank’s officials off guard, the Fed has called time on one of the most
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. If you have ever wondered what the corporate equivalent of tattooing the words “love” and “hate” on the knuckles of each fist would look like, The Pokémon Company has the answer. In a statement last
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The lawyers who represented victorious Tesla shareholders may be in line for a record-breaking payout worth hundreds of millions, or even billions, of dollars after a Delaware court on Tuesday voided a $56bn pay package
US President Joe Biden has appointed his clean energy adviser John Podesta as the country’s top climate diplomat, moving swiftly to fill the vacancy despite a looming presidential election. The appointment comes at a critical time for US climate and international energy policy, with allies concerned about the country’s commitment to global climate goals if
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. This article is an on-site version of our Swamp Notes newsletter. Sign up here to get the newsletter sent straight to your inbox every Monday and Friday If there is one global celebrity who reflects
A Delaware judge has ruled Elon Musk has to forfeit $55bn of Tesla share awards from a long-term pay package, causing a storm at the electric-car maker and threatening to distract its boss from troubles at the company and across his business ventures. “Never incorporate your company in the state of Delaware,” Musk commented on
Municipals saw the largest one-day improvements since November Wednesday, as U.S. Treasury yields fell and equities sold off after the Federal Reserve Open Market Committee kept rates unchanged and signaled the Fed may not be rushing to cut rates until inflation is further tamed. In his press conference, Fed Chair Jerome Powell said cuts are
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Arc’teryx apparel brand owner Amer Sports is poised to raise less money than hoped in the largest US initial public offering since October, in the latest sign of investor caution amid a tentative reopening in
Another bankruptcy involving bonds issued through the Arizona Industrial Development Authority was filed Tuesday along with a pre-packaged exit plan that would result in bondholder ownership of a reorganized company. Restoration Forest Products Group, which brought the Chapter 11 case in U.S. Bankruptcy Court in Delaware, sold $112.8 million of taxable Series A senior and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US Federal Reserve held interest rates at a 23-year high on Wednesday, but gave little immediate indication of when it would begin cutting borrowing costs this year. The Federal Open Market Committee’s decision to
The Federal Reserve announced it will leave interest rates unchanged Wednesday, setting the stage for rate cuts to come — and paving the way for relief from the combination of higher rates and inflation that have hit consumers particularly hard. Although Fed officials indicated as many as three cuts coming this year, the pace that they trim interest
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Meta’s Mark Zuckerberg was pushed to publicly apologise to the families of people who said they had been harmed by his social media platform, a dramatic moment in a heated congressional hearing over child safety
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. An Informa employee attempted to deny an Israeli company access to an event in London, underlining the tensions western corporations must manage as the conflict in the Middle East rages. An employee at the publishing-to-events
January issuance was up year-over-year as positive market momentum from yearend, growing capital needs, tighter credit spreads and planning for dwindling federal stimulus dollars prompted issuers to come to market. January’s total volume rose 16.1% to $27.928 billion in 474 issues from $24.056 billion in 497 issues in 2023. Issuance for the month is slightly
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sir Keir Starmer’s opposition Labour party will step up efforts to woo the private sector on Thursday by hosting a “business day” for 400 corporate leaders. That tickets reportedly sold out within hours suggests it
Stay informed with free updates Simply sign up to the German politics myFT Digest — delivered directly to your inbox. German chancellor Olaf Scholz slammed the far-right Alternative for Germany’s plans for “Dexit”, saying any move to leave the EU would be catastrophic for the bloc’s largest economy. “That would be the biggest destroyer of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US Treasury will hold some of its largest-ever debt auctions in the coming three months in an effort to fill the yawning federal budget deficit. The Treasury said on Wednesday it would increase the
The city of Jacksonville, Florida, is seeking bids for underwriters to manage its bond issues for the next several years. The Sunshine State’s biggest city, with more than 950,000 residents — and the largest in area in the entire continental U.S. — is soliciting information from qualified firms to serve as senior managing underwriter or
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US government bonds made their biggest gains of the year on Wednesday, after weak employment data spurred investor bets on an early interest rate cut from the Federal Reserve. The two-year US Treasury yield, which